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Supplemental Equity and Accumulated Other Comprehensive Income (Loss) | 3 Months Ended
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Sep. 30, 2022
Notes to Financial Statements |
Supplemental Equity and Accumulated Other Comprehensive Income (Loss) | ​ ​ Note 8. Supplemental Equity and Accumulated Other Comprehensive Income (Loss): Supplemental Equity The Company has declared cash dividends per share of $0.32 in the three months ended September 30, 2022 and 2021. Consolidated Changes in Equity (amounts in thousands) ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Bio-Techne Shareholders |  | ​ | ​ |  |  | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Accumulated | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | Additional | ​ | ​ | ​ | ​ | Other | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Common Stock | ​ | Paid-in | ​ | Retained | ​ | Comprehensive | ​ | Noncontrolling | ​ | ​ | ​
​ | ​ | Shares | ​ | Amount | ​ | Capital | ​ | Earnings | ​ | Income(Loss) | ​ | Interest | ​ | Total
Balances at June 30, 2022 |  | 39,160 | ​ | ​ | 392 | ​ | ​ | 653,657 | ​ | ​ | 1,122,921 | ​ | ​ | (75,200) | ​ | ​ | (759) | ​ | ​ | 1,701,011
Net earnings |  | - | ​ | ​ | - | ​ |  | - | ​ |  | 89,555 | ​ |  | - | ​ |  | 179 | ​ |  | 89,734
Other comprehensive loss |  | - | ​ | ​ | - | ​ |  | - | ​ |  | - | ​ |  | (16,762) | ​ |  | 0 | ​ |  | (16,762)
Reclassification of cumulative translation adjustment for Eminence to non-operating income | ​ | - | ​ | ​ | - | ​ | ​ | - | ​ | ​ | - | ​ | ​ | 152 | ​ | ​ | (33) | ​ | ​ | 119
Elimination of noncontrolling equity interest from sale of Eminence |  | - | ​ |  | - | ​ |  | - | ​ |  | - | ​ |  | - | ​ |  | 613 | ​ |  | 613
Share repurchases |  | (55) | ​ |  | (1) | ​ |  | - | ​ |  | (19,561) | ​ |  | - | ​ |  | - | ​ |  | (19,562)
Common stock issued for exercise of options |  | 107 | ​ |  | 1 | ​ |  | 9,422 | ​ |  | (11,428) | ​ |  | - | ​ |  | - | ​ |  | (2,005)
Common stock issued for restricted stock awards |  | 11 | ​ | ​ | - | ​ |  | - | ​ |  | (6,427) | ​ |  | - | ​ |  | - | ​ |  | (6,427)
Cash dividends |  | - | ​ | ​ | - | ​ |  | - | ​ |  | (12,545) | ​ |  | - | ​ |  | - | ​ |  | (12,545)
Stock-based compensation expense |  | - | ​ |  | - | ​ |  | 14,364 | ​ |  | - | ​ |  | - | ​ |  | - | ​ |  | 14,364
Common stock issued to employee stock purchase plan |  | 9 | ​ | ​ | - | ​ |  | 2,517 | ​ |  | - | ​ |  | - | ​ |  | - | ​ |  | 2,517
Employee stock purchase plan expense | ​ | - | ​ | ​ | - | ​ | ​ | 97 | ​ | ​ | - | ​ | ​ | - | ​ | ​ | - | ​ | ​ | 97
Balances at September 30, 2022 |  | 39,232 | ​ | $ | 392 | ​ | $ | 680,057 | ​ | $ | 1,162,515 | ​ | $ | (91,810) | ​ | $ | - | ​ | $ | 1,751,154
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Bio-Techne Shareholders |  | ​ | ​ |  |  | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Accumulated | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | Additional | ​ | ​ | ​ | ​ | Other | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Common Stock | ​ | Paid-in | ​ | Retained | ​ | Comprehensive | ​ | Noncontrolling | ​ | ​ | ​
​ | ​ | Shares | ​ | Amount | ​ | Capital | ​ | Earnings | ​ | Income(Loss) | ​ | Interest | ​ | Total
Balances at June 30, 2021 |  | 38,955 | ​ | $ | 390 | ​ | $ | 534,411 | ​ | $ | 1,085,461 | ​ | $ | (57,291) | ​ | $ | 8,263 | ​ | $ | 1,571,234
Net earnings | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 69,615 | ​ | ​ | ​ | ​ | ​ | (634) | ​ | ​ | 68,981
Other comprehensive income (loss) |  | ​ | ​ | ​ | ​ | ​ |  |  | ​ |  |  | ​ |  | (6,925) | ​ |  | (39) | ​ |  | (6,964)
Common stock issued for exercise of options |  | 295 | ​ |  | 3 | ​ |  | 36,345 | ​ |  | (13,481) | ​ |  |  | ​ |  |  | ​ |  | 22,867
Common stock issued for restricted stock awards |  | 20 | ​ |  | 0 | ​ |  | 0 | ​ |  | (9,765) | ​ |  |  | ​ |  |  | ​ |  | (9,765)
Cash dividends |  | ​ | ​ | ​ | ​ | ​ |  |  | ​ |  | (12,493) | ​ |  | ​ | ​ |  |  | ​ |  | (12,493)
Stock-based compensation expense |  | ​ | ​ | ​ | ​ | ​ |  | 11,396 | ​ |  | ​ | ​ |  |  | ​ |  |  | ​ |  | 11,396
Common stock issued to employee stock purchase plan |  | 3 | ​ |  | 0 | ​ |  | 1,358 | ​ |  | ​ | ​ |  |  | ​ |  |  | ​ |  | 1,358
Employee stock purchase plan expense |  | ​ | ​ | ​ | ​ | ​ |  | 341 | ​ |  | ​ | ​ |  |  | ​ |  |  | ​ |  | 341
Balances at September 30, 2021 |  | 39,273 | ​ | $ | 393 | ​ | $ | 583,851 | ​ | $ | 1,119,337 | ​ | $ | (64,216) | ​ | $ | 7,590 | ​ | $ | 1,646,955
​ ​ ​ Accumulated Other Comprehensive Income The components of other comprehensive income (loss) consist of changes in foreign currency translation adjustments and changes in net unrealized gains (losses) on derivative instruments designated as cash flow hedges. The Company reclassified $0.5 million, net of taxes, from accumulated other comprehensive income (loss) to earnings during the three months ended September 30, 2022. The accumulated balances related to each component of other comprehensive income (loss) attributable to Bio-Techne, net of tax, are summarized as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Unrealized | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Gains | ​ | Foreign | ​ | ​ | ​
​ | ​ | (Losses) on | ​ | Currency | ​ | ​ | ​
​ | ​ | Derivative | ​ | Translation | ​ | ​ | ​
​ |  | Instruments |  | Adjustments |  | Total
Balance as of June 30, 2022 | ​ | $ | 8,069 | ​ | $ | (83,269) | ​ | $ | (75,200)
Other comprehensive income (loss) before reclassifications, net of taxes, attributable to Bio-Techne | ​ |  | 4,376 | ​ |  | (21,457) | ​ |  | (17,081)
Reclassification from loss on derivatives to interest expense, net of taxes, attributable to Bio-Techne(1) | ​ |  | 319 | ​ | ​ | ​ | ​ | ​ | 319
Reclassification of cumulative translation adjustment for Eminence to non-operating income, net of taxes, attributable to Bio-Techne | ​ | ​ | — | ​ | ​ | 152 | ​ | ​ | 152
Balance as of September 30, 2022(2) | ​ | $ | 12,764 | ​ | $ | (104,574) | ​ | $ | (91,810)
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Unrealized | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Gains | ​ | Foreign | ​ | ​ | ​
​ | ​ | (Losses) on | ​ | Currency | ​ | ​ | ​
​ | ​ | Derivative | ​ | Translation | ​ | ​ | ​
​ |  | Instruments |  | Adjustments |  | Total
Balance as of June 30, 2021 attributable to Bio-Techne | ​ | $ | (6,193) | ​ | $ | (51,098) | ​ | $ | (57,291)
Other comprehensive income (loss), net of tax before reclassifications, attributable to Bio-Techne | ​ |  | 84 | ​ |  | (8,607) | ​ |  | (8,523)
Reclassification from loss on derivatives to interest expense, net of taxes, attributable to Bio-Techne(1) | ​ |  | 1,598 | ​ |  | — | ​ |  | 1,598
Balance as of September 30, 2021 (2) | ​ | $ | (4,511) | ​ | $ | (59,705) | ​ | $ | (64,216)
​
| (1) | Gains (losses) on the interest swap are reclassified into interest expense as payments on the derivative agreement are made. The Company reclassified ($417) to interest expense and recorded a related tax benefit of $98 during the quarter ended September 30, 2022. The Company reclassified ($2,091) to interest expense and a related tax benefit of $493 during the quarter ended September 30, 2021.
​
| (2) | The Company had a net deferred tax liability of $3,921 and a net deferred tax benefit of $1,391 included in the accumulated other comprehensive income loss as of September 30, 2022 and 2021, respectively.

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